Time is ripe for India to explore trade deal with AfCFTA: Commerce Secretary Mr. BVR Subrahmanyan
- IBEF
- July 21, 2022
The moment is opportunity for India to consider trading with the union, according to the Commerce secretary Mr. BVR Subrahmanyan, with the signing of the African Continental Free Trade Area (AfCFTA), the largest free trade agreement in the world. In January of last year, the African Continental FTA went into effect. The moment has come for India and Africa to start talking about entering into comprehensive economic cooperation or a free trade deal, He said at the 17th CII-Exim Bank conference.
He stated that officials from India will discuss trade issues with some of your colleagues from African countries. India may cooperate on ideas, production, raw materials, technology, and prospective investments. India and Africa can assist one another in the areas of health, education, medicines, and joining global value chains.
The announcement from the commerce secretary comes at a time when the Indian economy is opening up quickly and has inked trade agreements with Australia and the United Arab Emirates (UAE) in February and April, respectively. There are currently talks going on with industrialised nations including the UK, the EU, and Canada.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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